Two-Family Duplex with Two-Car
New
For Sale
$445,000
296 Power Rd, Pawtucket, RI 02860
Residential Income, Pawtucket, RI
Property Size1,555 SF
Lot Size0.10 Acres
Price / SF$286.17
Days on Market3
Property Features for 296 Power Rd
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RS
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 3, Bedroom 2, Bathroom 2, Bedroom 1, Bedroom 4
Parking
6
Directions
Use GPS
Standard status
Active
APN
M:50 L:0027,407255
Size
1,555 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4917
Building Details
Year built
1890
Floors in Building
2
Number of units
2
Listing Agency:
RE/MAX River's Edge · RE/MAX International
(401) 254-1776
Listed By:
Michelle Cartwright · License #224874
(401) 433-5100
Added: Sep 25
Changed: Sep 26
Last Checked: Sep 27 at 12:06PM
MLS# 73582836
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex contains two residential units, each configured with two bedrooms and one full bathroom. The building measures 1,555 square feet and dates to 1890. A two-car garage provides additional parking and storage, and the property occupies a 0.1033-acre corner lot.
The Pawtucket property is near Routes 95 and 146, with shopping, dining, and services in the surrounding area.
The Pawtucket property is near Routes 95 and 146, with shopping, dining, and services in the surrounding area.
Key Highlights
- Two units, each with 2 bedrooms and 1 full bathroom
- 1,555‑square‑foot building constructed in 1890
- Two‑car garage for parking and storage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$25,891
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.82%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$517,820
$517.8K
Cap Rate 7%
$369,871
$369.9K
Cap Rate 9%
$287,678
$287.7K
Market Conditions
NOI Build-Up for 1,555 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$39.6K $25.44/SF
− Vacancy
−$2.6K −$1.65/SF
EGI
$37.0K $23.79/SF
− OpEx
−$11.1K −$7.14/SF
NOI
$25.9K $16.65/SF
Area
Providence County, RI
Vacancy
6.50%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$517,820
Cap Rate 7%
$369,871
Cap Rate 9%
$287,678
Alternative Uses
Best Use
Multifamily LT 5
$369.9K
$323.6K – $431.5K
NOI $25,891 @ 7.0% cap · market cap 5.82%
Second Best
Apartment 5plus
$293.6K
$256.9K – $342.5K
NOI $20,549 @ 7.0% cap · market cap 4.62%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
761
Businesses Nearby
Explore this area
Business Placement
Demographics for 02860, RI
47,894
Population
21,467
Households
2.2
Avg Household Size
37
Median Age
25%
College-Educated
80%
High-School Grad
5.3 sq mi
ZIP Area
9,037
Density / Sq Mi
$59,954
Median Household Income
$42,038
Median Earnings
$1,112
Median Rent
$287,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence has two bedrooms and one full bathroom, with garage space for vehicles and storage.
Where is this duplex located?
The property is located at 296 Power Rd Pawtucket, RI.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 full bathroom; 1,555‑square‑foot building constructed in 1890; Two‑car garage for parking and storage
